Positive turn for real estate

The Albany property market is showing signs of improving after a strong increase in sales at the end of last year and a positive start to 2012.

After a tough few years for real estate countrywide, local vendors are recording better sales figures after shifting properties over the tourist-friendly summer season.

Professionals Arthur Johnston Snowball director Greg Pearson revealed November2011 had been a “fantastic” month, with December sales also remaining solid.

“January started off well, too,” he said.

“We had a bit of a lull towards the middle but finished strongly and the start of this month has also been strong. We wouldn’t be far off a sale a day at the moment.

“Whether that continues or not is the thing, but for the last three months there is a little more positivity.”

Mr Pearson said the combination of a gradual decrease in prices and a notable increase in local interest and inquiries was combining to generate more sales, with houses in the $300,000 to $400,000 price bracket most popular.

Harcourts Albany director Evan Samiotis said though sales generally increased over the summer period, he had noticed a “quantum leap in sales” over the past few months.

“We had a very good last quarter and it’s stayed very steady through January,” he said.

“It’s probably about another 12 months until we’re out of the woods (but) it’s a good, healthy, slow growth at this stage.”

Merrifield Real Estate director Jeremy Stewart also said last month had been a good period for sales, with inquiries picking up from about November.

The cautious optimism of vendors correlates with recent statistics from the Real Estate Institute of WA, which shows two Albany suburbs in the top 10 median house price growths for 2011 after the December quarter.